Iceland confirms will not enter EU membership talks

March 12, 2015 9:14 PM

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REYKJAVIK (Reuters) - Iceland will not start negotiations with the European Union about joining the bloc, its foreign ministry said, confirming the ruling party's 2013 election promise and formalizing a freeze on accession talks since it came to power.

The North Atlantic nation of 325,000 people underwent a financial meltdown in 2008, bringing the country to the verge of bankruptcy after three banks collapsed during the global financial crisis.